tv Varney Company FOX Business November 7, 2014 11:00am-1:01pm EST
underwhelming. markets are sort of a mix so far. that is exactly what i have for our viewers today. varney and company starts right now. ♪ >> thh president continues to act on his own. when you play with matches, you take the risk of burning yourself. charles: does the house of congress havee fear to challenge the white house?
top democrats and republicans immigration, the economy,iddnt. national security. all of that is going to be on the table. mary kissel is going to be here now. >> i do not think that they will get the tax reform done. it had very. bipartisan support in congress. it does not look like he has learned very much.% >> i know that. we are talking to someone that moments after looked like he was pro- punch, to bequite honest with ou.
>> some sort of cooprommse on things that everyone agrees on. some of it would go towards creating jobs in this country. >> what happened after the last shellacking e took in 2010. what did he do? you have paul rhineland -- you have paul ryan. why would he change now? he would change for a democratic party. members of congress publicly coming for the president. i think that is because the
democrats that are now in congress are not the moderates. they are at the far left. here is a list of some of their things. you have seen the list there. >> yes. >> why do we have lower gas prices? charles: it is a freaking miracle. look, we are in a 2% growwh trap here. everything is fine with the economy.
>> they are not buying it. maybe the left emain in power. the reason i bring that up is i do not think that the democrats think that they can wreak control washington, d.c. >> i think that they do. why do you think that the president said that? it is just words, charles. there is nothing to inddcate that these guys want to put forth this. the president never had to
really be on the front page of a newspaper. he was able to project the idea. all the negative energy was emanating out at a negative congress. it is hard for me to imagine. bill afterrbill hitting his desk. him saying no time after time. >> hat is why i think the president's strategy will be to prod the far right. charles: i think thaa that will backfire. the guys -- >> i hope you are right. when you listen to guys like ted cruz, he would go crazy.
charles: the argumeet would not be immigration. it would be an overuse of white house power. >> he would ppison the well for -@anything that john boehner sa. charles: let me get back to the headlines. the u.s. economy added 214,009 u.s. jobs last month. the labor participation rate is critical. 62.8% and ever so lightlyy let's check out the big board and see what the response is. it will be one of those seesawed days. the s&p 500 up a little bit
more. oreo, in the meantime, near a three-year low. really starting to come back. it has been something of a big-time deal. a penny per gallon per day. the national average ii $2.94. take look at the $2 club. holding steady, 26 statessby pushing some new games. a new version of words wiih friends and it issstarting to gain some attraction. that can be crushed saga. that is starting to fade. better than expected earnings. we do have big names that you know and they are big winners.
we will go to the floor of the new york stock exchange. >> it is pretty wild. some of the guys that i was talking to did not know. the chairman turning it in. the real estate aspect is something that he has always consideeed. 32%. this is on the idda that they will be turning it intt a race. they will sell the stores and then release them back. two or 300 of those stores. it gives them better tax. certainly not the same stores sales. those are relatively flat. >> i hear you. these guys have used more shenanigans trying to say that thing.
we have some shared interest in fighting isis. some sort of deal with iran's nuclear program. pulitzer prize-winning julie is with us right now. hey, hey big guy. me and you. >> all of which have gone unreciprocated. nevertheless, he is not daunted by the rejection of his overturns. i do not fault the president for trying to test the waters with iran. the feeding isis to a nuclear deal. pointed out, it is not only dead
and illegal and immoral, it is doing something that the iranians need to do anyway. they supply their clients and lebanon through syria. they have faith in the survival of the syrran government there. they need to do this on their own. why give them something for it? >> the growth of isis reflects poorer on america. he probably does not have any ambitions. isis has all global ambitions. everyone in the world has a point to our failed leadership.
charles: we do have breaking news. president obama meeting with his cabinet right now. he is addressing the economy. let's take a listen. >> folks that work hard in this country are able to get ahead. obviously, we had a significant midterm election. my attitude has been and will continue to be that good ideas do not necessarily come from just one party. i am looking forward to leaders from both democrat and republican caucuses. what i think we need to be doing -@is making it stronger. i will be interested in3 listening to them. whether it is putting ppople that to work through stronger
manufacturing here in the united states and selling more around the world, whether it is figuring out how we can build on some monitors new investments that we can make, there is a strong bipartisan sspport around the country. all of these issues are ones in3 which there is a strong possibility of bipartisan cooperation. as long as we set politics asiie for the moment aad focus on the people that actually sent us here. i have been emphasizing to them from day onee we will reiterate in this3 meeting the fact that separate and apart from legislative
activity, we have the capacity to continually improve how we deliver services to the american people. -@part of what has happened over several decades is that people sometimes feel as if the federal government is distant and it is not customer friendly. too much democracy. because of the defining work of many members of his cabinet, what we have been able to do is start chipping away attthe old ways of doing business. we make sure that people are getting the help that they need. ww got a chance to welcome a conversation with ur new secretary of veterans affairs. he is coming from the private sector. an extraordinary legacy of service and our forces. what we are already seeing is
that bob is able to start skimming down the wait times for people in terms of getting them an appointment that they need. we produced almost 30%. and a loo of that is not by virtual new legislatiin. it is by focusing on these new problems and managing them better. continue listening to the american people and seeing how we can be more helpful. there are a lot of opportunities to do that here today. i have taken inveetory of the progress being made in various departments. there is still immediate work that needs to be done. we have made progress in building the public health infrastructure that we need.
very concerned both here domestically, but most importantly concerned internationally. we will get reports from others that have been actively involved ultimately, we can stand down this epidemic overseas. we also have significant match ups. we have to make sure that our efforts are properly funded. that will be an opportunity for this secretary of defense table. bottom line is that, as i have told by white house staaf and i have shared innthe past with any
of my cabinet -- charles: that was president obama talking about many things. starting off with the jobs report. adding a lot of interesting things. back with mary kissel. i thought the tting that he mentioned, a strong possibility of cooperation. talking about manufacturing. are they starting to put out his bargaining chips to the public right now? >> charles, has he been asleep since tuesday? the biggest gop weighs in decades. more investment. early childhood education. it does not do anything. bureaucratic improvement?
charles: let meethrow out a couple of possible deals that could happen. if i am president obama, i say, i have just mentioned chiidhood education. i will let you bring back a lot of cash from overseas at a 10% rate. we will take 3% of that and put it towards infrastructure funds. give me 2% for childhood education. it seems like he is trying to make something work. >> did you hear any admission that he was wrong or that his policies did not work? it is all about him all of the time.
charles: you did miss the fact of customer service. [laughter] charles: all again, once again about government. a review of government, not a rebuke of president obama's policy. -@let's check on the big board. relatively flat. that jobs report missed. a few people camm back to the labor markets. something there for everybody. time now for your morning gold report. gold a huge move this morning. it could simply be oveesoldd let's check on the price of oil. making it a pretty nice bounce here. homeland security. they are out with a new warning.
devastating u.s. economy. jo ling kent is there with the details. we have been hearing about stuff like this for a while. i do not think the american public understands or appreccates the degree. >> abc news is reporting. there has been a malware inserted into software that does control oil and gas pipelines. power grid. water infrastructure and some nuclear plants. we have not onfirmed this. according to abc news, this has been going on since 2011. there has been an ongoing issue with cyber attacks going on in the commercial side of things and government side of things. charles: even though china gets the headlines, russia probably poses the higher frets.
>> they are the concerns here. we are continuing to investigate >> jo ling, thank you very much. are they making their voices heard? just 13% of them voted in these midterm elections. charlie, what is the deal? do young people just not care? what is up with this lackluster participation? >> the thing i took away from the midterms a couple days ago is district erosion of the democratic support that young people are giving towards liberal politicians. losing their stranglehold on politicians.
charlie crist got 52% in taxes. greg abbott nearly tied for the youth vote. you are seeing liberal politicians lose their support. it is in striking distance, and 2016. charles: one thing to inherit these boats. capitalize on this thing without fumbling the ball? >> absolutely. you make a great point. i think thattthe republicans in congress need to make an energetic and optimistic vision. they need to get this going again. i think young people want results. you and i both know that a free
market system is the one that will get us there. young people can support that.% the big ellphant in the room, the big national debt. sttff being put in my generation. young people respect that. charles: you are right. even the black vote shocked democrats. they better wake up. we love it when you come on. >> tom brady is the greatest quarterback of all time and you know it, charles. charles: big meeting at the white house in just about an hour. we will sit down with president obama. some cooperation.ee compromise? what to expect his next. ♪
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half of democrats or republicans. repuulicansswould argue that tuesday's election results are the democrats. we talked to a white house economic advisor this morning. >> paid for with business tax reform. raising the minimum wage. so many ideas that the president talked about at the press conference on wednesday. >> there areesomeeareas of compromise. beyond that, there remains a number of issues in d.c. especially when it comes to economic disabilities. they have been here before. charles: thanks a lot, rich.
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we were down, but now we are up nine points. the s&p hitting an all-time high. big winner right now, monster beverages. they say hop on this bad boyck. right now. we have to market watcherssthat do not see eye to eye. here is what they had to say. -@roll it. >> the market is usually up. it is hugely up with a republican congress. forget all of that. we have had the greatest bubble createddin the market in the last five or six years. they are going to crash. >> i have known mary for a long time. i like gary. what he has is no resemblance to the ttuth.
the idea that somehow that money got into the system is factually incorrect. charles: both of these guys are wrong and charlie is here to make his case. p> the notion that the fed has no impact, i like that. when you buy bonds, it is known as you buy securities from the open market. you infuse the market with money. interest rates go down. you buy stock. that is what is going on. charles: it has been articulated over the years.
i have heard people say that. if i am a regular person listening -- >> the fed is doing that. ccarles: when interest rates go down on bonds, it makes it less attractive. >> people are selling those bonds for stocks. it never happened. @t still has not happened. the image is one of the anomalies of this market. the bottom line is ttis, professional investors that control the market by stock -- ccarles: i am just saying what has not happened.
>> listen. that is what happens.% >> the notion that somehow corpooate profits are not going up. there is not a realism to this the economy did not respond the way it alwayy does. what happened followwng the extent. business to a certain companies go out there and they become more efficient. uc wages coming down. that is companies fixing the balance sheet. when it reallyycomes down to it, he is predicting a depression. >> how much money americaa corporations have made on global
deceiving. the participation rate is really the most important thing. charles: here is a man who knows. for the most part, the market s flat. all of this looks like more of the same. >> the key point is what is the labor force participation rate. the important point here is 41% of the jobs that were created, only 41% of those jjbs were low-wage jobs. range.6% werr in the middle although the metric and the number is going along, i think
the american people have a clear sense of theetype of jobs that they need. they simply are not being created. >> politicians can spin these numbers all day long. people lost their jobs in the great recession and got them back. how do we turn this around? they have a lot of power right now. what would be the prescription to turn this thing around? >> a tremendous amount of power that the president has. put forth a clear agenda. they should also look at those rules and regulations. they have the power to pull back on their own. he was sitting there with his appointed team. he was telling them about how to improve customer service.
if you are a coworker and west virginia, you are and i and bitter. you are a steelworker. what are the things thattare stopping that? >> what about obamacare? getting rid of the mandates. that is off the table. >> absolutely it would help employment. the back story of that, i do not think it has gotten enough attention. the federal regulations, they have been implemented regulator these are very strong and formations that they are putting
in place. the relationship between the patient and the dock or is that jeopardy. i think the american people understand that. these are pieces of thh legislation that we will take up first. creating thh greatest level of @nsecurity. >> i think that you are spot on with all of that. forget about the noise. we appreciate your time. thanks a lot. edible arrangements. you know these guys. now they are making a big push to get back to ouu troops. that is up next. what they are doing to help our veterans. ♪ tate for bett aess to talen cuttg ge reah, d ate of t a filities. and u pay no tes foten
nicole: i am nicole petallides with your fox business brief. the dow and the s&p 500 hitting all-time record highs. the dow and the nasdaq slightly lower. transportation index also high today. exxon was a winner. disney has been under pressure. united healthcare and mikey pulling back. take a look at ali baba. all-time highs.
across the $114 mark. coming out with earnings. of 15% this week. a winner there. abercrombie. down 13%. more varney and company coming up. ♪ ffee ithrld. 's delicious wve turned her toffee into a business. goas to take an idea and maket happen. i'm jane anformed my toff cpanyen. i'm thugh legalzm. i never reallyho i wou ma moneyoing whai love. we createdalzoomom the people start theusins and launch tir dreams. to lelzoom.m today and make your si dam reality. legalom.com we t thlaw onour si. cayou stt tomorrow and make your si dam reality. yes sir. alrit. t's share the torrow.
charles: some quick stock alerts. they've done it again. the chinese amazon absolutely crushing it. then going like gangbusters since the dock over. -@the post office is defending delivery services seven days a week. it will run through christmms. remember all of that outrage last year. the post office predicts up to 700 million packages will be delivered this holiday season. joining the armed forces of iraq and afghanistan. edible arrangements will send $1. their goal is to donate at least $50,000 to the vets. edible arrangements is with us right now.
first of all, anytime we hearr3 veterans, we are thrilled. what sparked you to think of this? we have some amazing veterans on our team. they do wonderful things every year. they do wonderful things, not only for their country. we want to do our part in getting back and everytting. >> how do you feel in general? we had a jobs report out. do you think that the public understands the plight? i remember the g.i. bill and if we give any favoritism to @nyone, it should be them.
>> a lot of those companies have gotten together.% i encourage business development. some of the best business owners they work very hard. thank you very much for your service. is very required.scipline that my team does an amazing job. when this program was announced, most of the messaaes that i got back was count me in. i am on board. let's do it. we have to raise awareness. as a country, we have to do a lot more. we have to make sure that these veeerans are successful. >> we had the jobs number today. it is mostly a yonder.
are we moving in theeright direction?% you heard that meeting at the what would you tell the group? >> i think we have to focus on that everyday people. we have to focus on main street. we just had a franchisee meeting. they are not seeing the change yet. trying o return the change ack to the main street owners. we have close to 10,000 people that we employ at our system. we have committed to hiring 1000 veterans. we are close to 600. charles: is the financing they
are? they say it feels like it is starting to swing towards businesses. does that apply towards small businesses as well? it still feels like they are being shut out. it is not there. not the way it needs to be. we still have to give attention. they do employ a lot of people. it is not as easy. a lot of people have to do a lot of work. charles: record amount of loans. then they redo it. african-americans of this amount. women of this amount. it feels like it is so politically driven. it would be an easier and better system. allowing tooth go out and make these decisions.
it would be better if we had a freer system. i want to know. people watch this show. they want to be inspired. >> i started this withha $6000 loan. they gave me a $6000 loan. the veterans need that type of support. we need o give them the backing @nd opening businesses and creating jobs. charles: i want to thank you. i'm going to have to do an extra hour on the treadmill this weekend because i am going to get one of those brownies. we have a great story. one wall street firm, it is kind we will talk about it when we come back.
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we love to travel -- and there's so much more to see. so we found a plan that can travel with us. anywhere in the country. [ male announcer ] join the millions of people who have already enrolled in the only medicare supplement insurance plans endorsed by aarp, an organization serving the needs of people 50 and over for generations. remember, all medicare supplement insurance plans help cover what medicare doesn't pay. and could save you in out-of-pocket medical costs. call now to request your free decision guide. and learn more about the kinds of plans that will be here for you now -- and down the road. i have a lifetime of experience. so i know how important that is. charles: the next hour of varney. new at noon.
a russian computer virus that could actually shut down a lot of plants. charlie gasparino is back with us. [laughter] >> a pretty good answer. >> this is about merrill lynch. used to perate kind of like the marines. very, very aggressive, disciplined staff. they have taken a distinct turn. all of this sort of new age
it does have a practical effect. brokers are leaving their to go to other places. for the most part, brokers are generally good. charles: a very competitive industry. >> you are right. it is like boxing or football. what would you do if your boss walked in there and said,,3 charles, i think you need to meditate? charles: i would say hell no. [laughter] charles: there is a new report out. it is a very reel threat. we have the gang. my bed is it will be real pants. two hours and two minutes away. ♪
charles: homeland security issue in awarding a russian computer virus has a possibility to infect our critical infrastructure, power plants, gas lines khalil pipeline call vulnerable. it is a major economic story. regional blackouts' means is. note the atms, stop lights or credit cards. homeland security has known about this as far back as 2011. our 2 of varney starts now. ♪ back to the big news of the morning the job numbers and the unemployment rate fell 25%, the labour participation rate increased at 62.8%.
kind of check the big board, balance relatively flat, tight range. the s&p has been to the upside for most of tte session barely hanging on. oil is down at a 3-yearrlanier opec at its demand forecasts. as a consequence gas still falling on a penny per gallon per day. national average for a gallon of regular and $2.94. cuuis pulling another rabbit out of their hat, 300 stores to real-estate investment, they loved that idea. disney making a lot of money, and it wws a drag on the bottom line. stock was down 3% and you heard this, abercrombie and fitch another loser. that is absolutely abysmal. 9 is many peoppe visiting, attractive or unattractive. down 14%.
a destructive computer virus that could devastate the united states economy. our next guest is one of the good guys and he is not taking it lightly. he joins us, the founder of red tiger securitt. what about this is has most concerning? >> the thing that is devastating as this type of malware is affecting our nation's most critical networks. these systems are largely outdated, difficult to attach, -pand providing most critical functions to our national infrastructure. we have seen various attacks from china, now russia and the first there were starting to inveetory and our systems to learn abouttour critical networks but now it is getting more devious. they are planting route kits that allow them to remote control our software, hardware power plants and critical e infrastructure companies bite technology in them.ting in place
charlee: that ould make it harder to retake control of our critical infrastructure. >> that is correct. the sad part is the asset owner, these are guys that trying to defend these networks and run the power plant and pipelines, their personnel are not equipped with the capability to defend against these types of attacks. if we had something attack our nation's critical infrastructure right now we are not rrady. i know that dhs is aware of that, they're doing town hall meetings acroos the nation to get donors aware of this threat. charles: you are throwing a lot of acronyms out their. homeland security is going around to these local municipalities utilities, having these conversations about their vulnerability is but what utilities saying? we don't have money to fix this and where did that money come
from? does the utility pay for it? does the federal government pay for it?% >> 90% of our critical infrastructure is owned by private companies. it is their responsibility to secure their own systems but only the power and chemical industries are regulated or mandated to fix their cybersecurity issues. all of the other 15 critical infrastructure sectors have no mandate or regulations from the government which means it is their choice if they want to fix the marin not. there needs to bb a greater attention placed on this issue so that if the rivate sector companies aren't doinn the right thing maybe there needs to be a greater amount of pressure applied from the federal charles: this is scary stuff. we will have you back later at check these route kids and malware and it is a serious threat and we better start -- back to your money. we have been talking about this market rally, they took this
some real numbers to back of the enthusiasm going into a. after an e. election with a democrat in the white house and republican in control of congress thh market is up 21% each year at least over the nicc six months. john wayfield, this is where you tweeted after it the election. let me boil down the election for. golf road out, goofs replace them, we do it all again in 2016. what is up? you don't have that enthusiasm that the gop is coming to the rescue? >> i don't see a reason for celebration. i hate to throw cold water on the party. i think it is good for the economy because you'll have more gridlock in washington d.c. but you have unqualified people thrown out of congress and unqualified people elected to take their place, they're just republicans, not democrats. i don't see a reason for celebration. charles: who do you want in? they elected some business people. >> that is the problem.
because both extremes from the parties we have such low voter turnout, you go over emotional things, let's run on repealing obamacare or in teaching the president, that appeals to a base as well.eft appeal to their the majority of america is not represented because they don't know. you don't have somebody saying we wanttto get the economy going. thing president obama did in me 2008. obamacare, if they try to repeal that instead of etting the ecrt: charles: back and thh jobs number. 214,000 non-farm jobs were added last month. that missed he estimate, 31,00% and labour participation rate is the key number. 62.8% remains near levels not seen since the late 1970s but the left paint aarosier picture, gas prices, the low unemployment rate and the stock-market rally.
joining us from chicago, austan goolsbee, you made the rounds all morning so you must be really trapped on be sending this jobs number and what we just talked about, but the reality it seems to me these days is the public is becoming hit to all this stuff and they made their voices loud and clear, this economy is not where they think it should be or could be. >> i don't disagree with you. multiple times we talked about this, you are absolutely right that we have seen improvementss -pand there are areas of weakne like labor force participation. it did get a little better in this report and just like we but not an overwhelming number of jobs, if you are going along at a modest rate you can recognize there has been progress but it still doesn't
feel fun. charles: the bottom line is i call what we have had so far back toward prosperity. a lot of people lost their house instead of a $2,000 a month mortgage payment payingg$1,500 a -pmonth in rent and then take i to not mall, with gasoline. wages. it is all about wages. how do we get wage growth? i would thinkkthe case has been mmde that you cannt get it with the policies that were in place. >> i was agreeing with you but then you turned it into politics. charles: we are talking -- we are talking policy. >> 95% of what happens in the economy has nothing to do with here, wages are growing only a little bit more than inflation. they are ot going down. charles: going ddwn versus inflation, cheeee prices and
meat prices. help me out here. maybe there's a glimmer of hope out there. >> there is a glimmer of hope but the next 12 months are going to look lot like what the last several years have looked like which is if you look ver a longer period there has been progress but if progress isn't that fast that anyone will say this feels like a great boon, if times when politicians have been willing to standdup and say there will be unadulterated i think this is a great boom are either at the peak of the internet bubble in the late 90s or in the year 1984 when the gdp was growing 6%, 7% year. i don't think it is usual. you say we have only good news.
charles: we know the american public is expecting mooe and we can grow the economy better than we have so far. thankssa lot. >> great to see you again. charles: president obama wrote a secret letter to iran's leaddr last month pointing out with nina pham shared interest in figgting isis but any cooperation between the two nations would hinge upon reaching a deal on iran's nuclear program and gave a deadline of nov. 24th. the founder of the american islamic forum for democracy and author of a battle for the soul of islam joins us now. good to have you here again. what do you make of this ttctic of communication between the president and the ayatollah? >> i can't believe it. as somebody dedicated to american security anddhomeland security i can't believe we would send a letter that ells them when we are battling isis we don't want to undermine iran. basically it is telling one of
the biggest threats to global security and spread the government that sprrads terror that you can have your relationship with syria, you can allow the genoccial tyrant to do what he wants and use chemical weapons and iraq, we have no intention of preoccupying iraq, the letter said, it s so naive, it doesn't understand the way chest from pairs of the islamist tyrants work. they see this as a green light to do whaa they want and you % wonder why america is no longer relevant? this makes nashville chairman -- neville chamberlain look-alike jayhawk. charles: it suggest the president knowsshe boxed himself in with this pledge of no. on the ground, there has to be some. frommsomeone and everyone we trained so far fell miseraaly so maybe it is taking iranian boots. has he balked himself in with these pledges? >> hhw fortifying is that, our
enemies suit and thee are fuelling through the iranian republican guard, a genocide of killing hundreds of thousands displaced millions in syria that somehow our only problem is with out of the so-called civil war which is a regional conflict. and theethe city governments will -- it is still bizarre, how to articulate what fools we look to the world with this kind of communication. charless a lot of americans feel we are in a no-win situation no matter what. we get rid of isis and help someone like the assad. he has no global ambitions, he is happy with his swath of pyria, but how does this every get resolled and what will be the role of america?
>> there is no good news with any dictaaorr in the middle east because it is two sides of the same calling, one is radical islam, the other side is a , on islam, the other side is aoin , islam, tte other side is a, one, the other side is a sod, the saudi government, we ignored the opportunity in the iranian awakening, e need leadership that begins to have a vision for the middle east. we let the world garden theory when what is going on in the middle east. charlee: you have done sooe amazing work and appreciate you taking the time with us this afternoon. coming that this area heartwaaming story, 4-year-old girl ssck with cancer got to see her dad played in the nfl was and got an amazing reception % from fans and players ended is going to bring a tear to your eye and this will bring a different tear to your eye, a
president obama sitting down with congressional leaderssfor the first time since the shellacking on tuesday. will we see more fiieworks or are both sides reduce some compromise and collaboration and needy govern? rich edson has a preview but up next we have one of the winners of olive garden's pasta passes, of this guy paid one hundred dollars with an all you can eat, and is trying to the break the record. he had so much cost in the last few weeks, waiting to you here about this. toealthcare providers, jewers topoing od store we provide financiolutions
charles: check the big board. it is up $1. hasn't moved much but the s&p has been putting up a fight, up 0.59. it is there for the moment. the big winner, monster beverages. what is going on? nicole: not only is monster on. to the upside but also hit a new hiih of $108.28. this is because of the deal with
coca-cola. thhs is expected to close in early 2015. coke will acquire 16.7% stake in monster, $2.1 billion to monster and coke transferred its energy brand to monster and also the preferred distributor ann the partner globally gives them a nice platform so monsttr stock gets a nice jump. charles: you are drinking monster. i love monster. charles: we may have a new endorsement deal. the price of oil has been news. almost $1 in thaa range. look for that toobe a big trading range. pnd interesting thing speaking of oil vottrs approved a ban on fracking in texas making it the first city in texas to ban it. banning fracking in texas is
like banning stake in my house. >> like banning cowboy boots, that is underneath dallas-fort worth regionalizing that part of the state, this is pretty shocking and decided to ban this within city limits. charles: one of these things where people forget where prosperity comes from or you get comfortable and become entitled? what is the driving force? imam lot of money came inside the state but how could the voters -- >> not in my backyard is solid is the name of the fracking, they don't want to see the oil wells, they don't want to see it. they love having a state running a surplus becauss of fossil fuels but don't want to see themselves. charles: anybody else in the state pick up for just little -- >> i don't think so. there is too much money to be made like the old counties in east texas, certain counties couldn't sell alcohol for religious reasons and realize the county line rick liquor
store making all the money, they decided to change religious reviews on alcohol for tax reasons. i don't think this will be spread. charles: olive garden using unnimited cost the pass, all of thii seven weeks, allen martin was one of the winners.% here's what was from the tally, you have taken $1,500 worth of cost in six weeks. >> a little bit more now. >> i have lost four pals eating pasta. charles: a great economic deal for youcharles: a great economi for you but teaching this must
pasta to the age even this much pasta can you keep doing it? >> if you go in and wrap up $1,600, $1,700 of free meals, on groceries and what not. it is a no-brainer. charles: what are you going to do when this is all over? you are addicted to it. >> it is addicting. third this week of the process and craving it. i don't understand it. after sunday i will need a vacation. charlls: what is your favorite dish on the menu? >> everything is good that olive garden, i like soups, it is outstanding there. i got to enjoy some things i never ordered before.
charles: listen, you are a smart do, maybe they can get you to save a buck or two. good luck to youu we will talk to you again. they are laying out an agenda for the next two years, will there be fireworks? rich edson has a preview coming up after the break. so ally ba really has no hidden feeonavgs aous? a's right. it's just that i'm rrieabt you knowokwhy's at?g.." no hn fees, om t bk ere no branches equals grearates. youa drmouth be a coon side effe that's whyre's bione omes in oral rinse, ray g,
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charles: big household name you know would be shocked to see that sears stock is exploding talking about conversion of 300 stores in real-estate investment trustss investors love this news. we and minutes away from the white house meeting, president obama with 16 top-ranning members of the congress, rich edson is here. >> that is right, leaders from congress on the way to the white house. and in control of the u.s. senate, neither side has shown a vast change in position publicly pn a number of key economic issues.
president obama however, eeds to change especially given the results with republicans winning practically all the races they targeted realistically from capturing the u.s. sennte. as for the president, what he had to say before this meeting, general promises to continue working together. >> a significant midterm election. as i said at the press and will continue to be that good ideas don't necessarily come from just one party and i look forward to seeing the leaders of both democratic and republican caucuses this afternoon. a chance to share with them what i think we need to be doing to build the economic momentum we already have. >> white house and republicans identified corporate tax reform and expanding free trade as two agenda items where they could work together but there's a lot entailed on corporate tax reform
that would need to be worked out there. as far as budding heads on issues, they could tow the same lines they did before the election especially on immigration reform with the president and white house stressing they want to vote in the house on the immigration bill land without it theyywould continue to move forward on a reguuation or executive action, not regulation, executive action from the white house, something republicans say would poison the well politically on immigration and ther reaches going forward. charles: thank you very much. up next, the story everybody is talking about. the 4-year-old daughter of the cincinnati defensive tackle, she got a chance to see her dad play for the first time last night and the reception from ffns and players will make your heart melt. all the details on ttat one after the break.
i take prilosec otchorning my frequent hearn. use it givese...ro heartrn! ilosec o. i take prilosec otchorning the mber 1octocommended frequent heart micin heartrn! one pillach ing. for 9 straight. 24 hours ro heartrn. charles: checking the big board, dow up eight points, the s&p doing better, at a new all-time high, 2,032. disneyymaking a lot of money
with their movies but espn has stock is down two points. line, it is friday and we have some good news for you. 4-year-old the s still, daughter of defensive tackle deeon still was able to watch her father play for the first time last night as the bengals' play the browns. she as a rare form of childhood cancer. here is a clip from last night's game. >> what is going toohappen when leah is up there in the booth and shares that movement. something that has already gone viral on as many social media outlets as you can possibly have. charles: the entire community has rallied around the family. nfl insider peter schrager joins us now. this story,,we heard it went viral, it has been viral from the beginning.
everyone watched it, they raised an amazing amount of money. >> i was in cincinnati for a couple games and got to speak with devon still was a wondeeful young an himself. always amazing you go around as the and everyone is wearing no. 75. he is not a star player on the sales are going to cancer research. this is not one of your marquee players. the cops were wearing 75, she got to pose with the cheerleading team, take a couple selfys, a was great to have what has been a very rough season for the nfl. a great moment. charles: anyone feel he is not a star player, some people think if it wasn't for this he might not be on the team, some skeppics mmght say listen, this is all being done to counterbalance all the other bad stuff. >> this is an authhntic moment. was a ccol moment was that
battle, the quarterback at the browned on the opposing team came over and shook still's hhnd and they spoke and said afterwards he was proud of him. this is a cool story. i would eat at a skeptic be cynical about it. charles: the fact is there are -pso many beautiful stories in e nfl and sports in general that don't get publicized. >> part of my job is to find those tories and bring out the later part of sports in the beginning side. 90% of guys who come across in sports are good guys with great stories who have overcome a ton to get to where they are today. is a shame the american public looks at these guys and a live look said the negaaive. charles: england adding more nfl games, they understand what real football is. stuart called the patriots -- >> these fans they eat it up, 85,000 people in the stands,
people come to watch and the nfl likes it. if you know anything about the nfl the bottom line is always important if they get to a new market and attract a new group of fans they will do so with ttree more games, the first decision game which is a bbg deal in nfl history being played internationally the jets will play the dolphins n london, jets fans, might not be crazy about it but fans overseas, they are. charles: i think is exciting. >> the next franchise would be london. >> london or l a, interesting debate. if you want to go overseas the back to where you had a bunch of football. >> you don't get taxed in london, you don't want to get taxed like guys don't play in toronto. >> the other e. schumer is they don't know if they will live in weekend and make a eight hour trip from the east coast? charles: got to liz in new york or london. >> they are not flying --
charles: they will get a repatriation overs there. >> we could do it. pt before we call them the delusional democrat saying president obama is not getting credit. lower unemployment, falling gas prices, the market is up big time. we happen to deal with facts on "varney and company". here to tell us what the democrats got a shellacking in the midteem is an ecooomist at tp i.t.. can you explain to the democrats what they are missinn but the general public said loud and clear on tuesday? >> of voters said they don't think the economy is doing very well ended you look at today's economic report, llbor market report you actually understand why that is true. we see very little wage growth and what we have also seen is a very low -- what is known as the employment population ratio, he share of the population that is employed is below where it was
before the recession, so the problem here is i think it is important to understand what the voters have said. what thh voters have ssid is that there is still problems in the economy and the labour market. you said democrats, this is a message for the democrats and the republicans that is important to take steps to keep healing the economy or lse we have a big problemm charles: perhaps it was a message to both parties but there was one in power and won their really took the big hit. this is what concerns -- what concerns a lot of our viewers, so far post election even today president obama talked about customer service and a review of government. is a rebuke of specific policies >> what it is a rebuke of is the believe that things are okay. we can fight about what the
right policy is. we can discuss what needs to be done but it is important for the democrats and the republicans to accept there is fundamental problem here that needs to be moved forward. there are problems in the labour market. the labor market report has a low unemployment rate but we know we haae friends, all of us who are having trouble in the labour market, we know college grads coming gawker still having problems. we look here, democrats republicansscome together and identify those policies that can move things forward. charles: tell us what you think those policies are. every single politician says all the time, what do you think those solutions are? >> i will tell you what we proposed. we propose regulatory improveme.
strip the barnacles off the bottom of the ship, clearing regulation, improvinn regulation, this is something republicans and democrats can agree on, can boost job growth and creation of new businesses lose the bills are there, there is bipartisan support. it is something everybody can % agree on right now to move forward either in the lame-duck session or after words of the fact is quite a few policies, what happens is washington focuses on places wheee there are differences rather than overlap. -pcharles: no one would argue f fewer regulations. maybe that is the lowest hanging fruit. millennials get a real bad rap, painted as lazy and the intitled generation but we have one up next, a young person who is breaking that mold, working hard, doing a lot of things that he will be here on set to tell his story after this. how ulswis
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charles: breaking news on gt advanced technologies. they are as the company remember were going to make the sapphire glass for the new iphone, they lost the contract and file field and this is what they are saying now, apple employee of the and switch strategy, apple sought to seccre a 1-sided deal with them and they say the specs were continually changing.% lot of people lost a lottof money on this and we will keep you abreast of it, real big meals on that. anothee big news story, oil near 3-year low after opec cut its demand forecasts because of that fallen another candidate for gallon. the national average for a gallon of regular $2.94.
you have got to take a look at the $2 club. these are all the states where an average price for regular is under $3 holding steady for the moment at 26. john wayfield, you still with us? no bottom in sight for oil and gas? could ccntinue to go lower because it keeps breaking key support numbers. >> it is all about supply and demand. what came out of the fed meeting was janet yellen talking about demand going forward. inflation is low because every prices are down. that was pretty much a comment on europe without commenting on we'll ppices will stay low. charles: europe i know has the boom was china, india, brazil, emerging markets going through growing pains but could we see them pick up the slack of little bit? >> we could. we are seeing a lot of problems in asia and europe especially lead for the first time by
germany and they have driven the e.u. economy. we are seeing a lot of will come on line. we haven't come offline in iraq, we are seeing the same thing lifted in iran to some degree, more oil coming online. libya's production is considerably up. in the united states is approaching the eyes it has ever been. charles: i am a conspiracy theorists. when the price goes down would cut production, supply and demand. they didnnt cut production, they cut prices. why would they do that if they american fracking miracle and by doing that reclaim some market share? >> they would love to derail the fracking miracle, they would love to. ease of tech guys cannt trust each other. you need $140 a barrel of oil for a balanced budget in iran. in the 80s. this is a real problem and these guys won't cut production to have prices go up. saadi arabia is trying to get a
lot of producers out of the market. charles: human rights advocate, he already worked for three hedge funds over multiple summers and is only 16 years old. welcome to the show, congratulations, tell us about this break for you are going to receive tonight. >> a human rights organization working to make violence against women a thing of the past. they had me on because i am an activist trying to get people to take a stand and pay attention to what is happening and working on domestic violence and make violence against women a thing of the past that my generation can make a differenne. charles: i feel like generational tte america is getting better but how did you become interested in this iisue? could have been interested in.
>> two years ago i reached out to communities overcoming relationship abuse. hy have been so lucky as i have such great relationships. i can trust my family and friendd. my best friend's support me. i don't have to live n fear the people i'm closest to will hurt me and domestic violence is an issue that undermines people's ability to form relationships. they can't form trusting relationships, taken for granted and when i first looked at coro i was painting one of their statehouses, it shocked me the people who are close to a person, and causing the most trouble. charles: that is a big topic in this country although i would think corporal punishment in imagine when they think of this
outside this country, this is the global project you are working on. talk about your internships, three hedge funds. how did that happen? >> it was the summer after i finished eighth grade i started -- my granddather has been trying to talk to me about it for a while and i started paying attention and is quite interesting. my dad is in business and started talking to me and started reading some literature. a book that i found helpful when i was learning was warren buffett invests like a girl and why you should too. it fits with breakthroughs, the idea i have been working on. charless did you say i am a young kid that i am interested and we will give you a shot? >> around my thirteenth birthday, i started managing it myself and he pulled more money in and i did more reading and i was lucky enough he had some
people he introduced me to and i started working for and talking to more people. charles: they are giving us the wraps signal what you on now? >> as far as right now i think the markets highly priced, maintaining a lot of cash. i am a conservative investor. charles: go for it, yoo are young. take a look at these oil stocks. a great job all arounn, america needs kids like you. we appreciate it. detroit. will they emerge from bankruptcy? get approval on the works for a while, the judge will rule on this one. we have all the details coming up right after the breek. there e twreasons why i ne to kp eye on my heah. at's why i taktaotic, a day probiotic.
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chhrles: breaking news, the supreme court will take up the % challenge to obamacare. this is news. we will have more detailssto follow. a judge will rule in detroit's bankruptcy plan earlier todaa. the city will reduce pension and benefits, this is a central california. a lot of people are thinking if
you don't allow this to happen, the city's wiil never -- the sort of reasons and they become bankrupt in the first place, a few overpromise public workers things that you cannot deliver. >> these politicians are ttying to get reelected and they know it will come to fruition 15 years down a road as detroit, the auto industry going down, as that heard the flight out of the troy but boca atlantic city also. they are being hurt with all the casinos closing, they could be the next one to fall. charles: during flush times everyone is excited especially when you have a sector doing really well, silicon valley in california or the auto industry, at one point of the gaming casinos and the public wanted peace of the action too and get it through these pension pharmacists that are ridiculous because when the money runs out someone is obligated for that and it is normally the taxpayer. >> the guy who goes to ork
every day with his lunch pail is not his fault, he was promised a pension and won't get it because someone overpromised. try taking something away, people get something, try taking away. charles: we want to get back to breaking news. another update on obamacare. the suppeme court has agreed to hear a new challenge to president obama's health-care law. justices on friday will decide whether the body rises subsidies middle-incomm people to afford their health-insurance premiums. whether or not these subsidies are illegal. a lot of people have said they are. more varney next.
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adam shapiro. it is yours. adam: charles, thank you very welcome to "risk and rrward". i am in for deirdre bolton. thoss that are still holding the stock. -@facebook founder mark zuckerbg . they wanted answers on everything. from problems on their messaging app to why he always wears his gray t-shirt. a guaranteed way to boost your income more than 43%. a plan to help you earn more. ffderal regulators issuing a